Compare top reverse mortgage lenders in Rhode Island.

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What is a reverse mortgage?

HECM stands for home equity conversion mortgage. Reverse mortgages allow for seniors to release a portion of the home’s equity to eliminate any existing mortgage payments. HECM’s are unique in that there are no monthly mortgage payments required – no other program has this unique feature. 

More than 600,000 seniors have taken out a reverse mortgage loan to improve their retirement, your not alone.

Compare HECM Lenders in RI for free with RMLD – Let us find you the best program.

Seniors in RI qualify for a reverse mortgage if…

• they are 62 years of age or older
• own their homes
• have equity available in the property
• can afford to pay for the home’s property taxes and insurance
• have never defaulted on governemnt insured loans

I qualify for the HECM reverse mortgage how does this program improve my retirement?

• improve your retirement qualify by having access to your equity today
• no more mortgage payments while you are living in the home
• interest rates are at all time low’s
• ability to spend the equity as you wish – no restrictions are placed on the funds
• no taxes are applied to the equity you release

“There is no other program which allows seniors to access their home’s equity without having payment in retirement.”

How Does the Reverse Mortgage Work in Rhode Island?

You have worked hard your entire life to build up your home’s equity, insn’t it time that your home paid you back? Well, FHA (Federal Housing Administration) insures the HECM reverse mortgage which allows you to use your home as a tool to fund your retirement.

Many seniors are still having to pay each month a mortgage payment this is seriously impacting the quality of those seniors retirement. What if you could use all the built up equity in your home to generate a new income source, this would greatly improve the quality of your retirement.

This is what the reverse mortgage program was designed for. Seniors are taking advantage of the low interest rate enviroment and the ability to qualify for a reverse mortgage loan without having income or credit scores to meet. There are no payments to be made (you are only responsible for the property taxes, insurance, and home maintanance expenses). It will cost you $0 to find our your options give us a call today.

Snapshot of Rhode Island

1.1 M

$133,000

60%

14%

Find Your City to Compare State and National Averages

Local Reverse Mortgage Lenders/Banks/Brokers in Rhode Island

A

Adamsville · Albion · Ashaway

B

Barrington · Block Island · Bradford · Bristol · Brown Station · Burrillville

C

Carolina · Central Falls · Charlestown · Chepachet · Clayville · Coventry · Cranston · Cumberland

E

East Greenwich · East Providence · Escoheag · Exeter

F

Fiskeville · Forestdale · Foster · Friar Station

G

Glendale · Greene · Greenville

H

Harmony · Harrisville · Hope · Hope Valley · Hopkinton

J

Jamestown · Johnston

K

Kenyon · Kingston

L

Lincoln · Little Compton

M

Manville · Mapleville · Middletown

N

Narragansett · New Shoreham · Newport · North Kingstown · North Providence · North Scituate · North Smithfield

O

Oakland

P

Pascoag · Pawtucket · Peace Dale · Point Judith · Portsmouth · Providence · Prudence Island

R

Richmond · Riverside · Rockville · Rumford

S

Saunderstown · Scituate · Shannock · Slatersville · Slocum · Smithfield · South Kingstown

T

Tiverton

W

Wakefield · Warren · Warwick · West Greenwich · West Kingston · West Warwick · Westerly · Wood River Junction · Woonsocket · Wyoming

HUD’s list of approved HECM Counselors in Rhode Island.
Counseling is mandatory in all states for those who wish to get a HECM loan.

HECM Counseling Agency Roster as of 06/05/2013 (2 records were selected, 2 records displayed.)

Name	Agency ID	Address	Phone	Web Site
MONEY MANAGEMENT INTERNATIONAL WARWICK	80665	501 CENTERVILLE RD FL 2 WARWICK,  RI  02886-4367	(866) 232-9080	http://www.moneymanagement.org
NEIGHBORWORKS BLACKSTONE RIVER VALLEY	84015	719 FRONT ST UNIT 103 WOONSOCKET,  RI  02895-5278	(401) 762-0074  ext 208	https://www.neighborworksbrv.org

COASTWAY COMMUNITY BANK 1 COASTWAY PLZ CRANSTON, RI 02910 PROVIDENCE County
Title II
Approval Date: Jul 20, 1994			[81 Areas Approved for Business]
HECM: Yes			Originates 203K: Yes
Telephone: (401) 330-1668			FAX Number: (401) 330-1669
E-Mail Address: [email protected]
LIBERTY HOME EQUITY SOLUTIONS INC 8 RED CROSS AVE NEWPORT, RI 02840 NEWPORT County
Title II
Approval Date: Feb 01, 2012			[81 Areas Approved for Business]
HECM: Yes			Originates 203K: No
Telephone: (800) 218-1415			FAX Number: (866) 409-3840
E-Mail Address: [email protected]
SEMPER HOME LOANS INC 225 DUPONT DR PROVIDENCE, RI 02907 PROVIDENCE County
Title II
Approval Date: Mar 22, 2007			[81 Areas Approved for Business]
HECM: Yes			Originates 203K: Yes
Telephone: (401) 632-0330			FAX Number: (401) 632-0883
E-Mail Address: [email protected]
SHAMROCK FINANCIAL CORPORATION 75 NEWMAN AVE RUMFORD, RI 02916 PROVIDENCE County
Title II
Approval Date: Jan 22, 1999			[81 Areas Approved for Business]
HECM: Yes			Originates 203K: Yes
Telephone: (401) 228-9591			FAX Number: (401) 228-9592
E-Mail Address: [email protected]
SIERRA PACIFIC MORTGAGE 2733 POST RD WARWICK, RI 02886 KENT County
Title II
Approval Date: Jun 02, 2011			[81 Areas Approved for Business]
HECM: Yes			Originates 203K: No
Telephone: (401) 384-6970			FAX Number: (401) 384-6972
E-Mail Address: [email protected]
STEARNS LENDING INC 931 JEFFERSON BLVD STE 1002 WARWICK, RI 02886 KENT County
Title II
Approval Date: Feb 18, 2010			[81 Areas Approved for Business]
HECM: Yes			Originates 203K: No
Telephone: (877) 361-4466			FAX Number: (877) 364-4466
E-Mail Address: [email protected]